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20121120
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of it followed bill clinton's 1993 tax increase. now, mitt romney has just spent two years telling us that tax cuts are all you need to stimulate the economy. is that wrong? >> absolutely wrong. supply side economics is bunk. we have seen historically not only when bill clinton raised taxes the economy did very well. george w. bush in 2001, 2003, cut taxes and the economy did very badly and then ultimately went really over a cliff in 2008. or more evidence for the first three decades after the second world war in the united states, the top tax rate never fell below 70% under dwight d. eisenhower, president eisenhower -- >> and yet professor, we have heard paul ryan, the so-called budget policy wonk of the house, repeatedly tell us that what we need to do is cut taxes and the economy does great. >> well, that's just simply not true. we had an election. most of the americans obviously did not believe that nonsense, and it is absolutely nonsense. there's no correlation at all between tax rates on the very top and the economy doing worse or for that matter doing much better. but here we have a hug
on the table. have real entitlement reform. on taxes it's as bill clinton said. it's simple math. spending is at 24% of gdp. taxes are at about 15% of gdp right now. even the most conservative member of congress only proposes to bring spending down to say 20% or even 19% of gdp. you still have a 4% to 5% gap. that represents hundreds of billions of dollars that has to be made up. even if you assume growth could get back to 3%, that won't make up the gap. so taxes have to be on the table. there's no way to get around that if you want to actually deal with the fiscal crisis that we have. and what is most heartening to me is to learn today that the president is willing to take this show on the road, to go out into the states and make the case and actually reinforce that mandate he has and make republicans realize that those that want to work with him will be rewarded as people who are trying to solve people, those that want to obstruct will pay a political praice that they will feel at election time. >> his opening act has got to be rick ross. these haters are not going to hold me back. some
Search Results 0 to 3 of about 4 (some duplicates have been removed)